Market signal Indodax this week, the Indonesian Blockchain industry was just shocked by Ghozali, a 22-year-old student in Indonesia who managed to sell a collection of selfies into NFT at a fantastic price. Apart from that, Bitcoin (BTC) has also stopped its decline and is trying a recovery along with several altcoins. If Bitcoin can break above $45,500, certain altcoins like NEAR, and ATOM could turn bullish in the short term. In addition, ZK-Rollups become the latest trending solution for scalability on the Ethereum network as developers seek to increase throughput capabilities while reducing transaction costs. This is the range of crypto assets on Indodax that can help you make money in 2022!
5 Bullish Crypto Assets
Blockchain-based solutions for enterprise level are also expected to develop in 2022. Many of the top competitors offering enterprise solutions are layer one blockchain protocols such as Ethereum and its Hyperledger framework. Other strong competitors in the field of enterprise solutions include Fantom and the Polygon network because they have lower transaction fees and faster processing capabilities.
In addition, the bullish technical pattern and potential approval of the EIP-1559 proposal could support MATIC’s attempt to rally to its all-time high level. Polygon’s price seems poised to rise by at least 30% after a key upgrade on January 18th which will push most of its native MATIC tokens out of circulation. Dubbed EIP-1559, the upgrade proposal was originally revealed as part of the so-called London Hard Fork Ethereum upgrade on August 5. The proposal effectively begins to destroy, or “burn,” some of the fees paid to miners via Ether (ETH). Traders and investors raised their bids for Ether before and after the EIP-1559 upgrade, noting that it made Ether a deflationary asset for the first time in history.
In the short term, the price of MATIC rose to 34 thousand, from previously moving at 31 thousand. Judging from the 4-hour timeframe, the price support is moving at the level of 27780 – 28672. The price has already broken the EMA/200 (32720). The next target resistance at 34000 – 37963 doesn’t even rule out the long term possibility, the MATIC/IDR pair could touch the old ATH at 41.013 levels.
Near Protocol (NEAR)
The NEAR Protocol NEAR token is in a strong uptrend. The price broke above the previous all-time high of Rp 260.253 on January 11, signaling the resumption of the upside move. The bears pulled the price back below Rp 251.309 on January 12 but buyers bought this dip and recaptured the level on January 13 and eventually the price resumed its uptrend.
RSI is in positive territory. If the bulls don’t let the price drop below the breakout level of Rp 258.370, the NEAR/IDR pair could rally to the next resistance above Rp 291.794. Alternatively, if the bears pull the price below Rp 258.370, the pair could drop to the 50-MA (Rp 251.173).
The 4 hours chart shows that the price is supported in the lower bands of Rp 258.711 to Rp 265.000. The rising moving average and the RSI in positive territory suggest that the short term trend is favoring the buyers.
If the bulls push the price above Rp 291.794, an uptrend could start. The pair could then advance to Rp 300.000 and then to Rp 350.000. Contrary to this assumption, if the price drops below Rp 251.174, this would indicate that short-term traders might book profits. The pair could then drop to Rp 220.000. A break and close below this support would indicate the start of a deeper correction.
Binance Coin (BNB)
Crypto ATMs in Uruguay that have just become the talk of the Blockchain universe are currently supporting the withdrawal and deposit of five cryptocurrencies, including BNB. Binance Coin (BNB) faces strong resistance at the EMA/200 (7246900) but the small positive is that the bulls haven’t given up. This shows that traders are not in a hurry to leave this one asset.
If the price breaks above 7,246,900, buyers will try to bypass this barrier and move up to the next resistance at 7,750,000 to 8,000,000. If they can do so, BNB will signal a possible trend change.
On the other hand, if the price drops from the 200-day EMA and drops from the middle bands, the bears will again dominate selling and the next support in the area of ??6,750,000 to 6,000,000. That could keep the pair stuck inside the downtrend channel for a few more days.
Cardano (ADA) fell from its 50/day moving average (17682) on January 13, but the decline was unable to continue, indicating that bulls are trying to accommodate and buy at a time when prices are falling.
The bulls tried to move up and were able to pass the SMA/50 (17886) and are now able to break the EMA/200 on the 4-hour chart, and the strong price rally broke through IDR 19,146 and now continues to the level of IDR 21,000 the pair ADA/IDR tries to touch the previous resistance at the level of 23000, or vice versa if the bears sell. This pair could be corrected first to the level of Rp. 19,000 to Rp. 20,000.
Cosmos (ATOM) is trying to go higher than its horizontal resistance at Rp 627,139.
The rising moving average and the RSI in positive territory suggest that the uptrend may continue and the candle may move higher than the current level.
A close above IDR 627,000 could open the gates for a rally to the next level at IDR 650,000 and then towards the IDR 700,000 target. Or, if the price drops from the current resistance, the ATOM/IDR pair could drop to the 50-day moving average (Rp 559,727). This is a key level that must be maintained. If the price rebounds from this level, the buyers will again try to push the pair above the resistance and resume the uptrend.
A break and close below Rp 559,727 would be the first sign that the bulls could lose steam. The pair could then drop to Rp 525,000.
The 4 hours chart shows that the price has broken through the symmetrical triangle pattern, indicating that the uncertainty has been resolved in favor of the buyers. The bears may try to maintain the overhead resistance at IDR 620,000 but if it fails, the pair could rally to the pattern’s target at 650000 Or, if the bears manage to maintain the resistance at IDR 620,000, buyers will again try to cross the overhead hurdle. This positive view will be negated on a break and close below Rp 559,700.
5 Bearish Crypto Assets
Loopring (LRC) is one of the protocols that has used zk-Rollups to reduce transaction costs and accelerate its throughput capabilities, which has helped push LRC prices to a high of $3.83 in early November 2021 yesterday. However, this week the LRC has shown a bearish signal which seems to be influenced by the sluggish market activity.
dYdX, a decentralized futures exchange, was one of the early adopters of the zk-Rollup technology through its partnership with StarkWare, whose StarkNet Network is a permissionless decentralized zk-Rollup. Its developers also published the fourth iteration of the roadmap this week, presenting plans to develop the platform into an open source, community-centric, and fully decentralized operation later this year. The architecture operates on a dual model where parts of the protocol, such as staking and governance, while core functions such as the off-chain order book and matching engine are controlled by an internal subsidiary, dYdX Trading Inc. and supported by centralized servers such as Amazon Web Services. Interesting, isn’t it?
KardiaChain is a blockchain platform that aims to be fully interoperable and “non-invasive”, meaning that blockchains can connect to networks without the need to make technical modifications to their own protocols. KardiaChain uses a dual-node structure to facilitate connections between its own ledger and other blockchains, sharding for scalability and smart contracts for developers. The platform relies on a native token, KAI, which is used to stake, transaction fees, participate in services, and deploy Smart Contracts.
KardiaChain was first announced in October 2018, and its mainnet launched in December 2020. CoinMarketCap’s current rating is #304, with an immediate market cap of $187,424,103 USD and has an outstanding supply of 3,246.5 million KAI and max. supply 5,000,000,000 KAI.
AIOZ Network is a distributed CDN built on our own Blockchain. On the AIOZ Network, users share redundant memory, storage and bandwidth resources to create large CDNs capable of powering streaming platforms anywhere in the world. We aim to change the way the world streams video.
Imagine you are watching a video on your phone. Today the video is streaming from a content delivery network (CDN). A CDN is a system of servers in multiple locations that store and deliver content to viewers and their devices – such as the videos you watch on your phone.
AIOZ Network creates a distributed content delivery network (dCDN) and represents a major change in the way the world streams video. On dCDN, videos come from one of many Nodes – ordinary people who are paid to store and deliver content from their devices with the help of apps. The app leverages unused device resources such as extra computing power, bandwidth, and storage.
DigiByte (DGB) is an open source blockchain and asset creation platform. Development began in October 2013 and its DGB token genesis block was mined in January 2014 as a Bitcoin (BTC) fork.
A long-standing public cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to increase the security, capacity, and transaction speed of the Bitcoin blockchain.
DigiByte consists of three layers: the Smart Contract “App Store,” a public ledger and a core protocol that features communicating nodes to deliver transactions.
NOTE: If the 5 EMA crosses the WMA 75, 85 and 200 EMA lines and the lines intersect from the bottom up, then the market trend tends to go up (bullish),
each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish).
If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend, overbought (overbought) or oversold (oversold) conditions are an indicator that the market is already at the point of changing the direction of the trend.
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